Question

Give one distinction between reconstitution of a firm and dissolution of firm

Answer 1

Answer:

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$<b>$They will change based on the perspective you hold.

Integrity. Accountability. Candor. Commitment. Dependability. Dignity. Honesty. Honor. ...

Achievement. Accomplishment. Capable. Challenge. Challenge. Competence. Credibility. Determination. ...

Intelligence. Brilliance. Clever. Common sense. Decisiveness. Foresight. Genius. Insightful.

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Answer 2

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But dissolution of the firm refers to winding up of the business as well as partnership firm. In other words, reconstitution would result into reforming of partnership firm with certain changes & dissolution would result into its closure.